Skip to Content
Release Date: December 11, 2008
Release dates | Historical data
Current release Other formats:
Screen reader |
ASCII |
PDF
(21 KB)
FEDERAL RESERVE statistical release
H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
December 11, 2008
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures
reserve balances of depository institutions at Week ended Change from week ended Wednesday
Federal Reserve Banks Dec 10, 2008 Dec 3, 2008 Dec 12, 2007 Dec 10, 2008
Reserve Bank credit 2,241,457 + 123,701 +1,377,632 2,245,083
Securities held outright 489,392 + 947 - 285,336 492,058
U.S. Treasury (1) 476,286 - 103 - 298,442 476,246
Bills (2) 18,423 0 - 243,596 18,423
Notes and bonds, nominal (2) 410,491 0 - 60,493 410,491
Notes and bonds, inflation-indexed (2) 41,071 0 + 4,160 41,071
Inflation compensation (3) 6,300 - 103 + 1,486 6,261
Federal agency (2) 13,106 + 1,049 + 13,106 15,812
Repurchase agreements (4) 80,000 0 + 34,357 80,000
Term auction credit 447,959 + 41,451 + 447,959 447,959
Other loans 240,590 - 14,983 + 237,543 233,115
Primary credit 90,161 - 172 + 87,152 89,952
Secondary credit 78 - 80 + 75 0
Seasonal credit 2 - 2 - 34 2
Primary dealer and other broker-dealer credit (5) 52,802 - 4,396 + 52,802 51,594
Asset-backed commercial paper money market
mutual fund liquidity facility 40,826 - 11,110 + 40,826 34,425
Credit extended to American International
Group, Inc. (6) 56,723 + 779 + 56,723 57,143
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper
Funding Facility LLC (7) 308,518 + 10,942 + 308,518 312,414
Net portfolio holdings of LLCs funded through
the money market investor funding facility (7) 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (7) 27,054 + 60 + 27,054 26,889
Net portfolio holdings of Maiden Lane III LLC (7) 20,957 - 196 + 20,957 19,600
Float -1,042 - 75 - 260 -1,315
Other Federal Reserve assets 628,030 + 85,556 + 586,841 634,363
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 2,200 0 0 2,200
Treasury currency outstanding (8) 38,815 + 14 + 71 38,815
Total factors supplying reserve funds 2,293,513 + 123,715 +1,377,703 2,297,139
Note: Components may not sum to totals because of rounding. Footnotes appear on the following page.
H.4.1
1. Factors Affecting Reserve Balances of Depository Institutions, continued
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures
reserve balances of depository institutions at Week ended Change from week ended Wednesday
Federal Reserve Banks Dec 10, 2008 Dec 3, 2008 Dec 12, 2007 Dec 10, 2008
Currency in circulation (8) 871,957 - 583 + 53,697 874,495
Reverse repurchase agreements (9) 91,954 - 4,771 + 53,982 92,092
Foreign official and international accounts 66,954 - 4,771 + 28,982 67,092
Dealers 25,000 0 + 25,000 25,000
Treasury cash holdings 241 0 - 15 226
Deposits with F.R. Banks, other than reserve balances 493,527 - 19,369 + 481,772 494,399
U.S. Treasury, general account 49,529 - 11,520 + 44,698 41,646
U.S. Treasury, supplementary financing account 404,123 - 36,405 + 404,123 404,123
Foreign official 188 - 2 + 91 188
Service-related 4,593 - 367 - 1,959 4,593
Required clearing balances 4,592 - 365 - 1,947 4,592
Adjustments to compensate for float 1 - 2 - 12 1
Other 35,095 + 28,927 + 34,820 43,850
Other liabilities and capital (10) 58,207 + 4,688 + 15,143 62,710
Total factors, other than reserve balances,
absorbing reserve funds 1,515,885 - 20,036 + 604,579 1,523,923
Reserve balances with Federal Reserve Banks 777,628 + 143,751 + 773,124 773,216
Note: Components may not sum to totals because of rounding.
1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer
to table 1A.
2. Face value of the securities.
3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed
securities.
4. Cash value of agreements.
5. Includes credit extended through the Primary Dealer Credit Facility and credit extended to certain
other broker-dealers.
6. Excludes credit extended to consolidated LLCs.
7. Refer to table 3 through table 6 and the note on consolidation accompanying table 8.
8. Estimated.
9. Cash value of agreements, which are collateralized by U.S. Treasury securities.
10. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money
Market Investor Funding Facility, Maiden Lane LLC, and Maiden Lane III LLC to entities other than the
Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio
holdings of these LLCs. Refer to table 3 through table 6 and the note on consolidation accompanying
table 8.
Sources: Federal Reserve Banks and the U.S. Department of the Treasury.
1A. Memorandum Items
Millions of dollars
Averages of daily figures
Memorandum item Week ended Change from week ended Wednesday
Dec 10, 2008 Dec 3, 2008 Dec 12, 2007 Dec 10, 2008
Marketable securities held in custody for foreign
official and international accounts (1) 2,493,778 - 1,020 + 453,475 2,491,435
U.S. Treasury 1,634,946 + 8,236 + 406,332 1,642,928
Federal agency 858,833 - 9,255 + 47,145 848,507
Securities lent to dealers 189,966 - 7,113 + 182,047 190,536
Overnight facility (2) 4,820 - 1,367 - 3,099 5,390
Term facility (3,4) 185,146 - 5,746 + 185,146 185,146
Note: Components may not sum to totals because of rounding.
1. Face value of the securities. Includes U.S. Treasury STRIPS and other zero-coupon bonds at face value.
2. Fully collateralized by U.S. Treasury securities.
3. Fully collateralized by U.S. Treasury securities, federal agency securities, and other highly rated debt
securities.
4. On December 10, 2008, option contracts on draws on the Term Securities Lending Facility totaling
$ 49,999 million were outstanding. The exercise date for the options is December 22, 2008, and the
draws have a term loan of December 23, 2008 through January 5, 2009.
2. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, December 10, 2008
Millions of dollars
Remaining maturity Within 15 16 days to 91 days to Over 1 year Over 5 years Over 10 All
days 90 days 1 year to 5 years to 10 years years
Term auction credit 104,458 343,501 --- --- --- --- 447,959
Other loans (1) 160,791 34,289 1,392 36,643 --- --- 233,115
U.S. Treasury securities (2)
Holdings 9,678 30,820 65,200 171,667 96,916 101,964 476,246
Weekly changes - 6,285 + 6,278 0 - 34 - 24 - 43 - 108
Federal agency securities
Holdings 4,965 3,353 2,524 4,970 0 0 15,812
Weekly changes + 3,014 - 3,774 + 30 + 4,970 0 0 + 4,240
Commercial paper held by
Commercial Paper Funding
Facility LLC (3) 0 313,152 0 --- --- --- 313,152
Money market instruments held by
LLCs funded through the money
market investor funding
facility (4) 0 0 0 --- --- --- 0
Repurchase agreements (5) 40,000 40,000 --- --- --- --- 80,000
Reverse repurchase agreements (5) 92,092 0 --- --- --- --- 92,092
Note: Components may not sum to totals because of rounding.
--- Not applicable.
1. Excludes the loans from the Federal Reserve Bank of New York (FRBNY) to Commercial Paper Funding Facility LLC, the
LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, and Maiden Lane III LLC. The loans
were eliminated when preparing the FRBNY's statement of condition consistent with consolidation under generally
accepted accounting principles.
2. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of
inflation on the original face value of such securities.
3. Face value of commercial paper held by Commercial Paper Funding Facility LLC.
4. Face value of money market instruments held by LLCs funded through the Money Market Investor Funding Facility.
5. Cash value of agreements.
H.4.1
3. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Wednesday
Account name Dec 10, 2008
Net portfolio holdings of Maiden Lane LLC (1) 26,889
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 28,820
Accrued interest payable to the Federal Reserve Bank of New York (2) 256
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,184
1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if
the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly.
This table reflects valuations as of September 30, 2008.
2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement
of condition consistent with consolidation under generally accepted accounting principles. Refer to
the note on consolidation accompanying table 8.
3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1
and in other liabilities and accrued dividends in table 7 and table 8.
Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC
under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed
to acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of
the credit extended and to minimize disruption to financial markets. Payments by Maiden Lane LLC from the
proceeds of the net portfolio holdings will be made in the following order: operating expenses of the LLC,
principal due to the FRBNY, interest due to the FRBNY, principal due to JPMorgan Chase & Co., and interest
due to JPMorgan Chase & Co. Any remaining funds will be paid to the FRBNY.
4. Information on Principal Accounts of Maiden Lane III LLC
Millions of dollars
Wednesday
Account name Dec 10, 2008
Net portfolio holdings of Maiden Lane III LLC (1) 19,600
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 15,134
Accrued interest payable to the Federal Reserve Bank of New York (2) 16
Outstanding principal amount and accrued interest on loan payable to American International
Group, Inc. (3) 5,010
1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if
the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly.
This table reflects valuations as of November 25, 2008.
2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement
of condition consistent with consolidation under generally accepted accounting principles. Refer to the
note on consolidation accompanying table 8.
3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1
and in other liabilities and accrued dividends in table 7 and table 8.
Note: On November 25, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane
III LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was
formed to purchase multi-sector collateralized debt obligations (CDOs) on which the Financial Products group
of the American International Group, Inc. (AIG) has written credit default swap (CDS) contracts. In connection
with the purchase of CDOs, the CDS counterparties will concurrently unwind the related CDS transactions.
Payments by Maiden Lane III LLC from the proceeds of the net portfolio holdings will be made in the following
order: operating expenses of Maiden Lane III LLC, principal due to the FRBNY, interest due to the FRBNY,
principal due to AIG, and interest due to AIG. Any remaining funds will be shared by the FRBNY and AIG.
5. Information on Principal Accounts of Commercial Paper Funding Facility LLC
Millions of dollars
Wednesday
Account name Dec 10, 2008
Commercial paper holdings, net (1) 311,124
Other investments, net 1,290
Net portfolio holdings of Commercial Paper Funding Facility LLC 312,414
Memorandum: Commercial paper holdings, face value 313,152
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 311,294
Accrued interest payable to the Federal Reserve Bank of New York (2) 396
1. Book value, which includes amortized cost and related fees.
2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of
condition consistent with consolidation under generally accepted accounting principles. Refer to the
note on consolidation accompanying table 8.
Note: On October 27, 2008, the Federal Reserve Bank of New York began extending loans under the authority of
section 13(3) of the Federal Reserve Act to Commercial Paper Funding Facility LLC. This LLC is a limited
liability company formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers
and thereby foster liquidity in short-term funding markets and increase the availability of credit for
businesses and households.
H.4.1
6. Information on Principal Accounts of LLCs Funded through the Money Market Investor Funding Facility
Millions of dollars
Wednesday
Account name Dec 10, 2008
Money market instrument holdings, net (1) 0
Other investments, net 0
Net portfolio holdings of LLCs funded through the money market investor funding facility 0
Memorandum: Money market instrument holdings, face value 0
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 0
Accrued interest payable to the Federal Reserve Bank of New York (2) 0
Commercial paper issued by LLCs funded through the money market investor funding facility,
net of related discounts 0
1. Book value, which includes amortized cost.
2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of
condition consistent with consolidation under generally accepted accounting principles. Refer to the note
on consolidation accompanying table 8.
Note: On November 24, 2008, the Federal Reserve Board authorized the Federal Reserve Bank of New York to extend
credit under the authority of section 13(3) of the Federal Reserve Act to a series of limited liability
companies funded through the Money Market Investor Funding Facility. These limited liability companies were
established to purchase short-term U.S. dollar-denominated certificates of deposit, bank notes, and outstanding
asset-backed commercial paper from eligible issuers. Such purchases are designed to foster liquidity in
short-term money markets.
H.4.1
7. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Eliminations Change since
from Wednesday Wednesday Wednesday
Assets, liabilities, and capital consolidation Dec 10, 2008 Dec 3, 2008 Dec 12, 2007
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 2,200 0 0
Coin 1,661 + 21 + 452
Securities, repurchase agreements, term auction
credit, and other loans 1,253,132 + 29,946 + 426,100
Securities held outright 492,058 + 4,132 - 282,677
U.S. Treasury (1) 476,246 - 108 - 298,489
Bills (2) 18,423 0 - 243,596
Notes and bonds, nominal (2) 410,491 0 - 60,493
Notes and bonds, inflation-indexed (2) 41,071 0 + 4,160
Inflation compensation (3) 6,261 - 108 + 1,440
Federal agency (2) 15,812 + 4,240 + 15,812
Repurchase agreements (4) 80,000 0 + 32,250
Term auction credit 447,959 + 41,451 + 447,959
Other loans 233,115 - 15,636 + 228,568
Net portfolio holdings of Commercial Paper
Funding Facility LLC (5) 312,414 + 8,534 + 312,414
Net portfolio holdings of LLCs funded through
the money market investor funding facility (5) 0 0 0
Net portfolio holdings of Maiden Lane LLC (5) 26,889 - 193 + 26,889
Net portfolio holdings of Maiden Lane III LLC (5) 19,600 - 1,583 + 19,600
Items in process of collection (445) 1,010 - 502 - 1,403
Bank premises 2,176 + 1 + 56
Other assets (6) 632,220 + 87,656 + 593,133
Total assets (445) 2,262,339 + 123,881 +1,377,242
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 837,563 + 1,734 + 55,050
Reverse repurchase agreements (7) 92,092 + 98 + 54,328
Deposits (0) 1,267,649 + 112,602 +1,249,038
Depository institutions 777,842 + 122,663 + 763,953
U.S. Treasury, general account 41,646 - 15,699 + 37,313
U.S. Treasury, supplementary financing account 404,123 - 29,984 + 404,123
Foreign official 188 + 2 + 91
Other (0) 43,850 + 35,620 + 43,558
Deferred availability cash items (445) 2,325 - 104 - 1,060
Other liabilities and accrued dividends (8,9) 19,444 + 9,100 + 13,497
Total liabilities (445) 2,219,073 + 123,431 +1,370,853
Capital accounts
Capital paid in 21,009 + 147 + 2,727
Surplus 17,180 + 5 + 1,719
Other capital accounts 5,077 + 298 + 1,944
Total capital 43,267 + 452 + 6,390
Note: Components may not sum to totals because of rounding.
1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer
to table 1A.
2. Face value of the securities.
3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed
securities.
4. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
5. Refer to table 3 through table 6 and the note on consolidation accompanying table 8.
6. Includes assets denominated in foreign currencies and any exchange-translation assets, which are
revalued daily at market exchange rates.
7. Cash value of agreements, which are collateralized by U.S. Treasury securities.
8. Includes any exchange-translation liabilities, which are revalued daily at market exchange rates.
9. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market
Investor Funding Facility, Maiden Lane LLC, and Maiden Lane III LLC to entities other than the Federal
Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these
LLCs. Refer to table 3 through table 6 and the note on consolidation accompanying table 8.
H.4.1
8. Statement of Condition of Each Federal Reserve Bank, December 10, 2008
Millions of dollars
Kansas San
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco
Assets
Gold certificate account 11,037 424 3,935 453 423 891 1,221 913 344 199 349 636 1,249
Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234
Coin 1,661 59 76 129 132 230 212 193 47 55 112 176 241
Securities, repurchase agreements, term
auction credit, and other loans 1,253,132 78,590 579,038 56,355 38,654 147,407 78,052 56,802 23,757 16,223 28,261 29,099 120,893
Securities held outright 492,058 20,639 175,071 21,484 18,659 44,619 48,959 43,429 17,004 9,290 18,067 20,411 54,427
U.S. Treasury (1) 476,246 19,976 169,445 20,794 18,059 43,185 47,386 42,033 16,457 8,991 17,487 19,755 52,678
Bills (2) 18,423 773 6,555 804 699 1,671 1,833 1,626 637 348 676 764 2,038
Notes and bonds (3) 457,823 19,203 162,891 19,989 17,360 41,515 45,553 40,407 15,821 8,643 16,810 18,991 50,640
Federal agency (2) 15,812 663 5,626 690 600 1,434 1,573 1,396 546 299 581 656 1,749
Repurchase agreements (4) 80,000 3,356 28,464 3,493 3,034 7,254 7,960 7,061 2,765 1,510 2,937 3,318 8,849
Term auction credit 447,959 20,050 187,257 31,300 16,958 95,070 20,791 4,869 3,888 5,362 2,360 4,833 55,222
Other loans 233,115 34,546 188,247 78 4 463 343 1,444 101 62 4,896 537 2,395
Net portfolio holdings of Commercial
Paper Funding Facility LLC (5) 312,414 0 312,414 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of LLCs funded
through the money market investor
funding facility (5) 0 0 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden Lane
LLC (5) 26,889 0 26,889 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane III LLC (5) 19,600 0 19,600 0 0 0 0 0 0 0 0 0 0
Items in process of collection 1,455 60 0 202 202 73 298 217 26 65 -42 124 230
Bank premises 2,176 123 209 64 150 223 225 206 130 111 274 251 210
Other assets (6) 632,220 35,850 160,105 61,342 43,759 168,652 48,902 28,515 6,483 12,140 7,077 12,739 46,659
Interdistrict settlement account 0 - 14,059 + 201,772 - 66,692 + 677 - 195,205 + 3,639 + 32,271 + 1,469 - 9,968 + 8,643 + 5,250 + 32,204
Total assets 2,262,784 101,162 1,304,912 51,936 84,102 122,417 132,715 119,329 32,327 18,855 44,739 48,372 201,920
Note: Components may not sum to totals because of rounding.
1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1A.
2. Face value of the securities.
3. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.
4. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
5. Refer to table 3 through table 6 and the note on consolidation on the following page.
6. Includes assets denominated in foreign currencies and any exchange-translation assets, which are revalued daily at market exchange rates.
7. Cash value of agreements, which are collateralized by U.S. Treasury securities.
8. Includes any exchange-translation liabilities, which are revalued daily at market exchange rates.
9. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, and Maiden Lane III LLC to
entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 3 through table 6 and
the note on consolidation on the following page.
H.4.1
8. Statement of Condition of Each Federal Reserve Bank, December 10, 2008 (continued)
Millions of dollars
Kansas San
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco
Liabilities
Federal Reserve notes outstanding 1,017,536 38,750 354,579 41,789 46,969 81,683 124,494 83,774 29,603 17,634 30,340 54,508 113,413
Less: Notes held by F.R. Banks 179,973 5,913 49,032 5,715 7,581 11,952 25,792 13,821 3,638 2,925 3,896 21,781 27,926
Federal Reserve notes, net 837,563 32,837 305,548 36,074 39,388 69,731 98,702 69,953 25,964 14,708 26,444 32,726 85,487
Reverse repurchase agreements (7) 92,092 3,863 32,766 4,021 3,492 8,351 9,163 8,128 3,182 1,739 3,381 3,820 10,186
Deposits 1,267,649 62,313 938,519 6,453 37,422 31,593 21,002 39,077 2,563 1,402 14,212 10,675 102,417
Depository institutions 777,842 62,293 448,856 6,449 37,418 31,503 20,998 39,075 2,550 1,402 14,211 10,674 102,414
U.S. Treasury, general account 41,646 0 41,646 0 0 0 0 0 0 0 0 0 0
U.S. Treasury, supplementary
financing account 404,123 0 404,123 0 0 0 0 0 0 0 0 0 0
Foreign official 188 2 158 4 3 11 3 2 0 1 0 1 3
Other 43,850 18 43,736 0 1 80 0 0 12 0 1 0 0
Deferred availability cash items 2,770 74 0 459 428 179 174 291 26 198 142 308 491
Other liabilities and accrued
dividends (8,9) 19,444 173 16,602 224 216 588 384 311 157 112 130 188 358
Total liabilities 2,219,518 99,259 1,293,435 47,230 80,945 110,443 129,425 117,761 31,893 18,160 44,310 47,717 198,940
Capital
Capital paid in 21,009 784 5,602 2,315 1,552 5,978 1,614 703 210 324 207 270 1,450
Surplus 17,180 1,049 3,343 1,815 1,291 4,999 1,426 816 180 354 193 364 1,351
Other capital 5,077 70 2,532 576 314 997 250 49 44 17 30 21 179
Total liabilities and capital 2,262,784 101,162 1,304,912 51,936 84,102 122,417 132,715 119,329 32,327 18,855 44,739 48,372 201,920
Note: Components may not sum to totals because of rounding. Footnotes appear on the previous page.
Note on consolidation:
The Federal Reserve Bank of New York (FRBNY) has extended loans to several limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 26, 2008,
a loan was extended to Maiden Lane LLC, which was formed to acquire certain assets of Bear Stearns. On October 27, 2008, the FRBNY began extending loans to Commercial Paper Funding
Facility LLC, which was formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers. On November 24, 2008, the Federal Reserve Board authorized the FRBNY
to extend credit to a series of LLCs funded through the Money Market Investor Funding Facility, which were established to purchase short-term U.S. dollar-denominated certificates of
deposit, bank notes, and commercial paper from eligible issuers. On November 25, 2008, a loan was extended to Maiden Lane III LLC, which was formed to purchase multi-sector collateralized
debt obligations on which the Financial Products group of the American International Group, Inc. has written credit default swap contracts.
The FRBNY is the sole beneficiary of Commercial Paper Funding Facility LLC and the primary beneficiary of the other LLCs cited above. Consistent with generally accepted accounting principles,
the assets and liabilities of these LLCs have been consolidated with the assets and liabilities of the FRBNY in the preparation of the statements of condition shown on this release. As a
consequence of the consolidation, the extensions of credit from the FRBNY to the LLCs are eliminated, the net assets of the LLCs appear as assets on the previous page (and in table 1 and
table 7), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to the portfolio holdings of the LLCs, are included in other liabilities in
this table (and table 1 and table 7).
H.4.1
9. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Dec 10, 2008
Federal Reserve notes outstanding 1,017,536
Less: Notes held by F.R. Banks not subject to collateralization 179,973
Federal Reserve notes to be collateralized 837,563
Collateral held against Federal Reserve notes 837,563
Gold certificate account 11,037
Special drawing rights certificate account 2,200
U.S. Treasury and agency securities pledged (1) 487,945
Other assets pledged 336,381
Memo:
Total U.S. Treasury and agency securities (1) 572,058
Less: Face value of securities under reverse repurchase agreements 84,113
U.S. Treasury and agency securities eligible to be pledged 487,945
Note: Components may not sum to totals because of rounding.
1. Includes face value of U.S. Treasury and agency securities held outright, compensation to adjust for
the effect of inflation on the original face value of inflation-indexed securities, and cash value of
repurchase agreements.
Release dates | Historical data
Current release Other formats:
Screen reader |
ASCII |
PDF
(21 KB)
Statistical releases